Chapter 43. Financing against the assignment of a monetary claim.
Article 824. The contract of financing under the assignment of a monetary claim.
1. Under a financing contract for the assignment of a monetary claim, one party (financial agent) transfers or undertakes to transfer to the other party (client) monetary funds against the monetary claim of the client (creditor) to a third party (debtor) arising from the provision of goods by the client and the performance of work or the provision of services to a third party, and the client concedes or undertakes to cede this monetary claim to the financial agent.
The monetary requirement for the debtor may be assigned by the client to the financial agent in order to ensure the fulfillment of the client’s obligations to the financial agent.
2. Obligations of a financial agent under a financing contract for the assignment of a monetary claim may include maintaining accounting records for the client, as well as providing the client with other financial services related to the monetary claims that are the subject of the assignment.
Article 825. Financial Agent.
As a financial agent, banks and other credit organizations, as well as other commercial organizations that have a permit (license) to carry out activities of this type may enter into financing agreements for the assignment of a monetary claim.
Article 826. Monetary claim ceded in order to obtain financing.
1. The subject of the assignment for which the financing is provided may be both a cash claim, the payment term for which has already arrived (the existing claim), and the right to receive funds that will arise in the future (a future claim).
The monetary claim that is the subject of the assignment must be defined in the client’s contract with the financial agent in a way that identifies the existing claim at the time of the conclusion of the contract, and the future requirement no later than at the time of its occurrence.
2. In the event of the assignment of a future monetary claim, it is considered to be transferred to the financial agent after the right to receive the funds from the debtor, which are the subject of the assignment of the requirement provided by the contract. If the assignment of a monetary claim is due to a specific event, it becomes effective after the occurrence of this event.
Additional registration of the assignment of the monetary claim in these cases is not required.
Article 827. The responsibility of the client to the financial agent.
1. Unless otherwise specified in the financing contract for the assignment of a monetary claim, the client shall be liable to the financial agent for the validity of the monetary claim that is the subject of the assignment.
2. A monetary claim that is the subject of the assignment shall be recognized as valid if the client has the right to transfer the monetary claim and at the time of the assignment of this claim he is not aware of the circumstances due to which the debtor has the right not to execute it.
3. The client shall not be liable for the non-fulfillment or improper fulfillment by the debtor of the claim that is the subject of the assignment if it is filed by the financial agent for execution, unless otherwise provided by the contract between the client and the financial agent.
Article 828. Invalidity of the prohibition of the assignment of a monetary claim.
1. The cession to the financial agent of the monetary claim is valid, even if there is an agreement between the client and its debtor about its prohibition or restriction.
2. The provision established by clause 1 of this article does not exempt the client from obligations or liability to the debtor in connection with the assignment of a claim in violation of an agreement between them to prohibit or restrict it.
Article 829. Subsequent assignment of a monetary claim.
Unless otherwise provided by the contract of financing for the assignment of a monetary claim, the subsequent assignment of the monetary claim by the financial agent is not allowed.
In the case when a subsequent assignment of a monetary claim is allowed by the contract, the provisions of this chapter apply accordingly.
Article 830. Fulfillment of a monetary claim by a debtor to a financial agent.
1. The debtor is obliged to make payment to the financial agent, provided that he has received from the client or from the financial agent a written notice of the assignment of the monetary claim to this financial agent and the notification specifies the monetary claim to be executed, and also indicates the financial agent to whom the payment should be made.
2. At the request of the debtor, the financial agent must, within a reasonable time, submit to the debtor proof that the assignment of the monetary claim to the financial agent actually took place. If the financial agent fails to fulfill this obligation, the debtor is entitled to make a payment to the client on this demand in fulfillment of its obligation to the latter.
3. Fulfillment of a monetary claim by a debtor to a financial agent in accordance with the rules of this article exempts the debtor from the corresponding obligation to the client.
Article 831. The rights of the financial agent to the amounts received from the debtor.
1. If, under the terms of a financing contract for the assignment of a monetary claim, a client is financed by buying this requirement from him by a financial agent, the latter acquires the right to all the amounts he receives from the debtor in fulfillment of the claim, and the client is not responsible to the financial agent for that the amounts received by him were less than the price for which the agent acquired the claim.
2. If the assignment of a monetary claim to a financial agent is made to ensure that the client’s obligations are fulfilled and the financing contract for the assignment of the claim does not provide otherwise, the financial agent must submit a report to the client and transfer to it an amount exceeding the client’s debt amount secured by the assignment of the claim. If the funds received by the financial agent from the debtor were less than the amount of the client’s debt to the financial agent secured by the assignment of the claim, the client remains responsible to the financial agent for the balance of the debt.
Article 832. Counterclaims of the debtor.
1. In the event that a financial agent appeals to the debtor with a request to make payment, the debtor is entitled, in accordance with Articles 410 - 412 of this Code, to present for offsetting his monetary claims based on an agreement with the client that the debtor already had at the time when the notification was received. on the assignment of a claim to a financial agent.
2. The claims that the debtor could make to the client in connection with the violation by the latter of the agreement on the restriction of the restriction of the assignment of the claim are not effective against the financial agent.
Article 833. Refund to the debtor of the amounts received by the financial agent.
1. In case of violation by the client of its obligations under the contract concluded with the debtor, the latter shall not have the right to demand from the financial agent the return of the amounts already paid to him by the claim transferred to the financial agent if the debtor is entitled to receive such amounts directly from the client.
2. The debtor who has the right to receive directly from the client the amounts paid to the financial agent as a result of the assignment of the claim, however, has the right to demand the return of these amounts by the financial agent, if it is proved that the latter did not fulfill his obligation to make the promised payment to the client related to the assignment of the claim, or made such a payment, knowing that the client had violated the obligation to the debtor to which the payment related to the assignment of the claim relates.
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